European investor confidence dropped to a three-year low in July as the sovereign debt crisis threatens to tip the euro region into recession.
Germany’s Sentix research institute said its index measuring sentiment in the euro-area economy fell to minus 29.6 from minus 28.9 in June. That’s the lowest since July 2009. Economists forecast an increase to minus 26.6, the median of nine estimates in a Bloomberg News survey shows. A gauge of expectations slid to minus 24 from minus 22.5, while a measure of current conditions held at minus 35.
Sentix said 865 investors participated in the survey, which was conducted between July 5 and July 7. The results are never revised.